CFA report highlights the need for transparency in CSU foundations

A new report released by CFA last week revealed that auditors associated with the CSU Chancellor’s Office have found inappropriate co-mingling of taxpayer dollars with private donations and other business revenues inside the university’s 90 affiliated auxiliary organizations.

The report shows how high-ranking CSU executives in the CSU Chancellor’s Office, including the CSU system’s Executive Vice Chancellor and Chief Financial Officer, have been aware at least since March of this year that public taxpayer money in the form of state general fund dollars is being improperly deposited into funds controlled by often-secretive non-profit organizations known as CSU auxiliaries, rather than into the public university accounts that are subject to the California Public Records Act.

To view the report, click here

After the release of the report CFA leader emphasized that these new revelations make it more important now that ever get SB 330 signed into law.

“This report truly underlines how important it is to make the dealings of CSU foundations an open process that is transparent to the university community and the public at large,” said CFA President Lillian Taiz.

Special Report

CSU documents reveal financial mismanagement and efforts to avoid accountability

(From left) CFA President LIllian Taiz, Stanislaus faculty member Steve Filling, CFA Communications Director Alice Sunshine & CFA Research Director Aimee Shreck during the announcement of CFA's Special Report

According to internal documents from the California State University administration, auditors have found an inappropriate co-mingling of state general funds (public money) with the other funds (such as those raised privately or generated by revenue operations) held in the university’s 90 affiliated auxiliary organizations.